As an ardent supporter of XRP, having been vocal on social media and Binance about its potential to make millionaires, its finally time to face the truth.
Yes I had thought it will outperform $ETH and $SOL
Yes, I had thought $XRP will soon dethrone the undisputed King of Crypto, Bitcoin. Yes, my dream of waking up one day and opening Binance to see my XRP has skyrocketed and seeing my estimated worth go from 100's in to millions, has given me sleepless nights.
No more. No more sleepless nights, getting up every 30 minutes to check if my dream of becoming a millionaire has materialised. I don't hate XRP, it's just that i am no longer delusional about it. My detachment from the expectation of bcoming a millionaire through XRP has finally given me the freedom to go and invest in other crypto that WILL actually make a difference to my life.
The change in stance is not due to emotional damage having seen the recent dumps, though many of the weak have cried over this quite vocally.
Though XRP is NOT doomed, it is certainly not what many hopium dealers are trying to sell. To be realistic, unless you've purchased around 10,000 XRP near around the launch time, you can forget about making millions from it.
You ask me why I say this? "Don't you see all the institutional adoptions, ETFs blah blah blah taking place? Are you crazy to think that will not cause an explosion in XRP's price?" MY response: " Very amateur".
What most people, like myself previously, fail to realise, is that all the news of institutional adoptions, appeals being dropped by the SEC, giant companies trading on XRPL, ability to take over SWIFT etc etc .. these will cause an explosion, these will raise value, these changes will make millionaires, but who will benefit? Who will these millionaires be? The XRP Holders? No.
The real beneficiaries are those are EQUITY HOLDERS in RIPPLE, not XRP owners! What everyone seems to misunderstanding, is that XRP was never designed or made to be a pricey coin. It's was always a means to an end. It is there to serve a larger purpose, amongst them one which is to act as a bridge currency for cross border transactions, effectively replacing SWIFT.
XRP needs to be cheap, in order to fulfill this purpose.
If we look at other technicals and macro data, there are too many XRP in the market. It would require a massive, massive burn to even get the price upto $10. While some do claim that Ripple will burn its escrow after clearance from the SEC and the ETF Approval, it is highly unlikely this will take place. If we look at actual figures, XRP already has 55bn XRP supply already circulating. And if you were to compare that to Bitcoin which has only 21 million supply in circulation, you can clearly see why XRP will never become the next Bitcoin.
Final take: If you having been holding onto atleast 10,000 XRP since near launch days, yes, there is reason for you to be excited and plan your retirement. For all else, unfortunately XRP is not the dream that is being sold.
